A blueprint against which you can adjust operations in order to achieve your goals. Upstart,
Lists key personnel resumes and curricula vitae belong in the appendix , compensation amounts, skills they bring to the company, and primary responsibilities. Avoid slang and explain any industry-specific terms. Sourcebooks Trade,
That is, they not only tell how a company will achieve its strategic objectives, they also tell why specific decisions have been made. Without accurate data and realistic projections, you're unlikely to land the financial support you need. An appendix may include a variety of documentation that supports different sections of the business plan. Unfortunately, many prospective business owners are convinced that their idea for a product or service is a "can't miss" proposition, and don't take the time to do the necessary research and work through a proper business plan.
Key areas include management's ability to provide planning, organizational skills, and leadership. Are your products right for your target market? The intent of the company profile, meanwhile, is to provide readers with a description of unique features that give the company an edge in the environment in which it competes. He had correctly identified a niche, but failed to follow through with the planning that might have revealed the strengths and weaknesses of his business. Your business's resume, which will be vital in dealing with lenders and outside investors, and an important tool in negotiating with vendors and attracting employees. Along with this graphic representation of your company's organizational structure, include a narrative description of each position.
But be careful: While audio or video tapes can be helpful, they must be professionally produced and linked directly to some aspect of your plan. Includes resumes of company officers and key personnel, photos of products, market studies, articles, book references, patents, contracts, detailed financial information and charts, product information sheets, price lists, brochures, newsletters, technical drawings, operations and technical manuals, and any other materials that support the narrative portion of the plan. I was so proud of myself. Dress Your Plan for Success The easier your plan is to read and use, the more likely it will bring the results you're hoping for.
Massarella, Gregory J.